PORTUGAL- During the first nine months of 2013, consolidated turnover for Sonae Industria was € 939 million, 7% below the 9M12 figure.

The lower level of activity of the Portuguese board manufacturer is explained by Sonae’s reduced industrial footprint and the prevailing lower demand in the European markets.

Compared to same quarter last year, consolidated turnover decreased by 5%, a slower pace of decline when compared with previous quarters, with the main negative contribution coming from Southern Europe, following the plant closures of the previous year. The contribution to the reduced levels of turnover comes from lower volumes, as the average selling prices were kept relatively stable versus the previous quarter.